HubSpot had initially set its price range between $19 and $21 a share. The raised price would give it a market cap of nearly $700 million.

The price raise will instantly make HubSpot's CEO Brian Halligan worth a few million dollars more than he would have been at the initial price range. Halligan owns 1.24 million shares, or 4.9%, of the company, according to HubSpot's S-1.

But at the mid-price of $23 a share, he would be worth almost $29 million after the IPO. That $2 increase in share price just added $2.5 million to his net worth.

HubSpot is one of the faster growing "software-as-a-service" companies. It posted $77.6 million in revenue last year, up 50% from the previous year. In the first six months of 2014, it had $51.3 million in sales, according to its S-1.